Persons of all ages are invited to attend a “Farm and Ranch Estate Planning Workshop” hosted by UNL Extension. This workshop will be held on March 2 from 9:30 to 3:00 at the Merrick County Ag Building, Fairgrounds, Central City.
The program is free with the lunch being provided by the Archer Credit Union. Everyone attending is asked to register by calling the Merrick County Extension Office at 308-946-3843 to ensure that there is enough lunch, handouts, and other materials. Please register by February 27, 2020.
One presentation will focus on the decisions and situations which should be addressed when thinking about how your farm or ranch estate will be passed. Topics will include: the need for planning, proper family communications, who makes the decisions, concept of fair versus equal, family negotiations, and much more. The presentation is designed to give some basic information to those that haven’t yet started to think about their succession or transition plan for their assets.
In addition, an attorney will be making his presentation to give Ag Families the basics of what they need to start planning their wills, trusts, and other end of life documents that need to be in order.
The objective is to start the process of having the farm succession or transition planned. Bring your questions, as the session is designed to be interactive answering as many questions as possible.
Allan Vyhnalek, UNL Extension Educator for Farm Succession will present. He was recently assigned to the Ag Economics Department to work on farm and ranch succession and transition. Tom Fehringer, Columbus based attorney with an additional office in Central City, will make the legal presentation. He has worked with farmers for over 16 years will cover the legal aspects of end of life and end of business decision making.
While the workshop will use examples related to Agriculture, the estate planning parts of the workshops will be applicable to all and anyone with interest is invited to attend. Participants at previous events always report that they wished they would have started sooner, when asked about the value of attending the presentation. The consequences of not having an appropriate plan in place can jeopardize the financial stability of your operation, and the future of the family. More importantly, we need to have our wishes known to others so the legacy of the farms and ranches can be passed to the individuals or entities intended.
For more information or assistance, please contact _308-946-3843 to register or Allan Vyhnalek, 402-472-1771.